Octet Europe announces deal with leading global investment platform
Octet Europe, part of the global Octet network, specialising in B2B supply chain payments and management for European businesses, announced that GTR Ventures has taken an equity stake in it at the recent GTR UK 2019 event in London. GTR Ventures are the world’s first investment and venture-building platform specialised in trade and supply chain.
Octet Europe possesses a state-of-the-art, cloud-based B2B trade ecosystem that allows EU buyers and their sellers in the EU and around the world to settle B2B purchases using direct debit/direct withdrawal/Giro and corporate cards (debit or credit) issued under any one of the major card schemes, such as MasterCard, American Express and/or Visa.
The investment by GTR not only means that Octet Europe will be in an even better position to service cross-border payments for European businesses, but also spells good news for Aussie SMEs trading with partners throughout Europe.
Octet Europe is managed by co-founders Margrith Lutschg-Emmenegger and Marius Savin. Lutschg-Emmenegger is a veteran of the global trade finance, forfaiting and factoring markets, formerly president of Fimbank in Malta, managing director at WestLB and chairman of International Factors Group.
Savin has held senior positions at Standard Chartered Bank, Egypt Factors and Fimbank, plus advisory roles at International Factors Group and Afreximbank.
“We are truly delighted to now form part of the GTR Ventures family and are convinced that we can bring interesting opportunities to Australian companies trading with Europe. Import and Export business between Asia-Pacific and Europe is increasing and the Octet Group (including Octet Finance Australia, Octet Turkey, and now Octet Europe) can facilitate these activities, reduce both risks and costs as well as enhance speed, visibility and transparency – all very important aspects in trade finance,” says Margrith Lutschg-Emmenegger, co-founder and CEO of Octet Europe Ltd.
Kelvin Tan, co-founder and chief investment officer of GTR Ventures, says:
“Among many other benefits, Octet Europe will provide its users, particularly SMEs, with productivity gains as well as enhanced risk controls. More importantly, Octet Europe represents for our partners and portfolio, a new channel that leverages B2B payment ecosystems — to provide banks, insurers, and trade-focused Fin-tech’s, greater market access to digitally enabled B2B communities.”
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Source: Octet Europe announces deal with leading global investment platform
